Exxon agrees to $2.4M Louisiana settlement; wants Arkansas suit dismissed (Houston Business Journal) Irving-based Exxon Mobil Corp. has agreed to pay $2.4 million in fines, improvements and other payments to settle violations at Baton Rouge, La.-area plants. The settlement is with the Louisiana Department of Environmental Quality. Roughly $2.3 million will resolve violations from 2008 to this year at four plants, including Exxon Mobil Corporation (NYSE:XOM)'s Baton Rouge refinery. The agency said that $61,912 is for the release of naptha in June 2012 at the Baton Rouge Complex. In Arkansas, Exxon has asked a judge to dismiss a federal lawsuit over the pipeline spill in Mayflower that spilled thousands of gallons of crude oil into a neighborhood.
Chesapeake Energy and its former CEO suggest huge Utica potential (Part 2) (Market Realist) The Utica Shale is an emerging play located primarily in eastern Ohio and western Pennsylvania. The play gained publicity in late 2011, as Chesapeake Energy Corporation (NYSE:CHK) revealed that it had been purchasing acreage rights in the area. Aubrey McClendon was the former CEO of Chesapeake, but he recently left the company because investors were unhappy with his management. Since his departure, the former CHK head has lined up ~$1.2 billion in financing for investment in Ohio, according to an article in the Wall Street Journal. McClendon now heads a new company, American Energy Partners, which has acquired Ohio assets from EnerVest Ltd. and affiliate EV Energy Partners LP (EVEP) as well as Royal Dutch Shell (RDS.B).
Exxon officials: Unclear why pipeline ruptured despite passing 2010 inspection (Arkansas News) Exxon Mobil Corporation (NYSE:XOM) officials on Monday defended the safety of pipelines as a means of transporting oil and said it is too soon to say why a pipeline that had passed inspections as recently as 2010 ruptured in Mayflower earlier this year. “If you look at our country, we have a large infrastructure of pipelines and we enjoy a standard of living and affordable energy as a population in America,” ExxonMobil Pipeline Co. Vice President Karen Tyrone said in an informal meeting with reporters at the state Capitol.
Interesting January 2015 Stock Options for CHK (Forbes) Consistently, one of the more popular stocks people enter into their stock options watchlist at Stock Options Channel is Chesapeake Energy Corporation (NYSE:CHK). So this week we highlight one interesting put contract, and one interesting call contract, from the January 2015 expiration for CHK.The put contract our YieldBoost algorithm identified as particularly interesting, is at the $13 strike, which has a bid at the time of this writing of 45 cents. Collecting that bid as the premium represents a 3.5% return against the $13 commitment, or a 2.5% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
UPDATE: Armed Robbery at Charlotte Hall Exxon (Southern Maryland News Net) On August 25, 2013 at 2:27am, police units responded to the Charlotte Hall Exxon Mobil Corporation (NYSE:XOM) for the report of an armed robbery. Upon arrival deputies determined two subjects, one armed with an unknown type of handgun, demanded money from the clerk. The clerk complied and the suspects fled the business on foot with an undetermined amount of proceeds from the business. Sheriff’s Office K-9 units responded and conducted a track of the suspects. The track was subsequently lost in the area of the Arby’s Restaurant.